101 11th St SE, Canton, OH 44707

Project Overview

CBRE IN + OH + KY Multifamily in conjunction with CBRE Affordable Housing is pleased to present to qualified developers the opportunity to acquire and develop the historic Hercules Engine Plant in the Canton CBD for affordable housing.

The asset which measures approximately 450,000 SF on 23 acres is currently listed on the National Register of Historic Places. The property, which is currently vacant qualifies for significant incentives for redevelopment along with strong City of Canton support for affordable housing development.

The Redevelopment Project involves a “Brownfield” remediation and an adaptive reuse of historic structures consistent with smart growth policies.

Investment Highlights

• Historic redevelopment opportunity that supports a myriad of end-uses

• Currently listed on the National Register of Historic Places – 05000575

• Significant Incentives available

• City of Canton support in writing for affordable housing development at the site

• Total site size is 23 acres which provides numerous layout options for development

• Ability to convert part of Phase II to indoor parking to support lack of climate controlled parking for Phase I – Phase I
which currently sits next door is comprised of 90 market-rate luxury multifamily units built in 2018 that does not have
garage parking

Incentives Overview

• Currently sits in a TIF district that was passed in 2017. This legislation allows for 100% of the increased assessed value of
the property to be exempted for a period of 30 years after passage of the ordinance.

• State of Ohio Historic Tax Credits

• Federal Historic Tax Credits

• State of Ohio Brownfield Grant for demo and remediation

• Transformational Mixed-Use Development Tax Credits

• New Market Tax Credits

• Affordable Housing or Low Income Housing Tax Credits (LIHTC) – 4% or 9%.